Project report for Manpower Recruitment
At a time when the information technology sector is evolving at a rapid pace, the Indian IT flexi staffing industry is expected to register 14-20 percent growth per annum in the next few years. According to the report by Indian Staffing Federation (ISF), the Indian IT flexi staffing industry was worth USD 3.04 billion in 2017-2018 and is expected to witness significant growth till 2021 across top states and sectors of the country. Staffing - an established form of outsourcing globally - is yet to be recognized and adopted as an effective means of running a business in India. The staffing industry provides a platform for recognized employment, work choice, even compensation, annual benefits and health benefits for the temporary workforce that constitutes a sizeable segment of India's total workforce. The penetration rate of the flexi workforce in IT with respect to the total IT workforce in India is 5.6 percent.
Product / Services & process
Flexi staffing is a boon to corporates, as it enables them to adapt to seasonal, structural and cyclical changes in the labour market. Many organisations are looking to adapt themselves to predictable and unpredictable changes and with good reason with the blended workforce which includes flexi staff. The key benefit for flexi employees is the opportunity to keep themselves abreast with continual skill development. Job seekers in the IT sector have always preferred to work on projects as it helps enhance their skills consistently. But in other industries, skill enhancement is not looked upon with similar criticality.
Market potential & Strategy
Indian IT flexi staffing industry was worth $3.04 billion in fiscal 2017, says the Indian IT Staffing Industry Landscape report. It's compiled by KPMG on behalf of the Indian Staffing Federation (ISF) and highlights the scale and status of the IT staffing industry in India. Staffing - an established form of outsourcing globally - is yet to be recognized and adopted as an effective means of running a business in India.IT staffing industry is the highest contributor to flexi staffing in India. The IT industry is also at the juncture of massive transformation with the influx of new technologies including artificial intelligence, machine learning, cloud, analytics, Internet of Things, etc. The demand for niche skill sets for new technologies and meeting immediate business requirements are the two main factors that will boost the hiring of IT flexi staff. By promoting the firm with more competent staff, we can capture the market even better. The company had a very clear vision on the new staffing pattern, as per the new requirements in the IT industry. More over the capability and clear vision of the management will help the firm to spread its wings.